what is the falling trend of pizza expenditure among the 2 income groups
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Answer:
Looking at some basic measurements of the economy has allowed you to be more concrete about the problems in Argentina. You report back to the International Monetary Fund (IMF) team that production has been declining in recent years. You also report that there was a recent increase in the price level. As yet, though, you do not know anything about either the causes or the consequences of these events. Measurement of the economy tells you what has happened, but it tells you neither why it happened nor what it means. Measurement is not enough. We need frameworks to help us make sense of the data that we gather.
Economists use many different kinds of frameworks to make sense of an economy. One of the most important is called the circular flow of income. To understand the circular flow, recall our working definition of economic activity: “goods and services produced for sale.” So far, we have focused on production. Now we think about the “for sale” part.